Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Hizmet rejects claims it is linked to graft probe, says democracy is antidote to chaos

The Journalists and Writers Foundation (GYV), whose honorary chairman is Turkish Islamic scholar Fethullah Gülen, has categorically rejected accusations that it is linked to the corruption and bribery investigation that has rocked Turkey for nearly a month, urging everyone to avoid language that only deepens the “dangerous polarization” in the country.

A Case Study In How Lobbyists For Turkish Government Manipulate The American Media on Gulen Issue

Turkish news outlets lit up this weekend after a former Republican lawmaker published an op-ed at The Hill calling on the U.S. government to extradite Fethullah Gulen, an exiled Muslim cleric whose return to Turkey is an obsession for the NATO nation’s president, Recep Tayyip Erdogan.

Academic Freedom in Turkey Under Seige

It appears that Fethullah Gülen, a U.S.-based Islamic preacher from Turkey who promotes peace and tolerance, and the schools associated with his religious Hizmet movement can’t get a break. Now, Gülen’s schools are being targeted in his home country by the Turkish government’s ruling Justice and Development Party, known as the AKP, which should dispel any notion in the U.S. that the AKP is somehow in cahoots with the Gülen movement.

Gülen says planned assassinations of prominent figures in Turkey could be blamed on him

In a video shared Sunday night on the Herkul.org website, where his speeches are aired, Gülen said after a graft probe in 2013 and the July 15 coup attempt, government circles are now planning to pin the blame on him and his movement, also known as Hizmet, for the planned assassination of several famous figures in Turkey.

17th TUSKON trade summit sees 25,000 B2B meetings

The 17th edition of the Turkey-World Trade Bridge summit, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), saw 1,160 foreign and 1,000 Turkish businesspeople discuss partnerships in an estimated 25,000 separate meetings on Thursday. The first day of meetings at the event brought businesspeople from a number of sectors, including textile and machinery, […]

Journeys with the Gülen [Hizmet] Movement: 2008-2012 by James Harrington

James C. Harrington*, January 27, 2013 Journeys through life take strange twists and happen in mysterious ways – some would say providential, although I might not – but one does wonder at times. My journeys with the Gülen movement began one Summer Sunday morning in 2008, when a judge friend of mine announced from the back […]

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkey donation by Turkish Cultural Center Albany

Hizmet’s focus is on serving humanity, not only promoting Turkish

Pro-government Yeni Şafak daily fires critical columnist

GYV says arrest warrant for Gülen motivated by upcoming election

Turkish-American school takes top prizes in Connecticut science fair

Gülen: Alevi-Sunni brotherhood should not be marred by bridge controversy

MP close to Gülen quits ruling AKP, slams accusations against Islamic scholar

Copyright 2026 Hizmet News